South Korea Cuts Key Rate to Record Low While MERS Spreads
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The Bank of Korea lowered its key interest rate to an unprecedented low as it warned that the spread of Middle East respiratory syndrome poses an imminent threat to consumption.
The central bank cut the seven-day repurchase rate to 1.5 percent on Thursday, the fourth reduction since August 2014. The decision was forecast by 11 out of 18 analysts surveyed by Bloomberg. The rest had expected no change.